The country with the largest population in the world has recently seen a major convergence of economic challenges. On Wednesday, Tencent, a Chinese entertainment and technology behemoth with a focus on gaming and multimedia, disclosed to the general public an unprecedented quarterly revenue decline. This demonstrated that the domestic technology industry had not been exempt from the challenges that the Chinese economy as a whole had to face.
Tencent Shares Falling
Tencent’s Doubtful Achievement
One of the most well-known companies in the Chinese tech sector, Tencent (0700.HK), may have demonstrated yesterday how the country’s economic slowdown has impacted the company’s financial performance.